Cactus, Inc. (NYSE:WHD) Shares Acquired by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE boosted its stake in Cactus, Inc. (NYSE:WHD) by 6.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,052 shares of the company’s stock after acquiring an additional 3,444 shares during the period. Congress Wealth Management LLC DE owned 0.08% of Cactus worth $3,563,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bridgewater Associates LP purchased a new position in shares of Cactus in the 3rd quarter valued at approximately $9,501,000. Principal Financial Group Inc. lifted its holdings in shares of Cactus by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 357,313 shares of the company’s stock worth $20,853,000 after purchasing an additional 15,035 shares during the period. JPMorgan Chase & Co. grew its position in Cactus by 1.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock valued at $185,155,000 after buying an additional 52,085 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cactus by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 701,485 shares of the company’s stock valued at $40,939,000 after buying an additional 13,669 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Cactus during the 4th quarter worth $16,377,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barclays lowered their target price on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.00.

Cactus Price Performance

Cactus stock opened at $47.17 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. Cactus, Inc. has a one year low of $43.27 and a one year high of $70.01. The company has a market cap of $3.75 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 5.13 and a beta of 2.05. The business has a fifty day moving average of $55.32 and a two-hundred day moving average of $59.54.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company had revenue of $272.12 million for the quarter, compared to analysts’ expectations of $277.59 million. As a group, analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 1.10%. Cactus’s payout ratio is 18.84%.

About Cactus

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.